Price index of first-hand domestic sales, 15 June 2011

Food prices increased by 0.1 per cent due to higher prices of Norwegian dairy products and birds’ eggs, cereals and cereal products, and vegetables and fruits. Lower prices of mineral fuels, lubricants and related materials, as well as chemicals and crude materials played the largest role in bringing the PIF down.

Lower prices of electricity

Prices in mineral fuels, lubricants and related materials decreased by 1.9 per cent from May to June. The price of electricity has been falling since December 2010, and the fall of 7.0 per cent in June accounted for most of the decline in the group. Prices for petroleum and petroleum products, however, inched up by 0.3 per cent in June, after falling 4.2 per cent in May, and helped dampen the price fall. The price rise in petroleum and petroleum products can be explained by an increase in import prices of some of the refined petroleum products.

Lower prices of chemicals

A price decrease of 2.1 per cent from May to June in chemicals was related to the price decline in organic and inorganic chemicals. Organic chemicals have experienced almost a continuous rise in prices since September last year, which was interrupted by a price fall of 2.9 per cent in June. The prices of inorganic chemicals fell by 6.4 per cent from May to June due to lower prices in domestically produced goods.

Ore prices down

Crude material prices fell due to reduced prices in metalliferous ores and metal scrap. A price fall in metalliferous ores and metal scrap of 5.5 per cent came mainly from lower prices for ores of nickel and aluminium. A possible explanation for the reduction in ore prices can be lower prices of basic metals. For more information about the development in metal prices, see producer price index .

Twelve-month change: 5.6 per cent higher prices

PIF increased by 5.6 per cent from June 2010 to June 2011. Prices rose for all main groups of goods. The strongest rates of inflation were in the three groups mineral fuels, lubricants and related materials, as well as manufactured goods and chemicals, in which prices increased by 20.9, 4.2 and 6.2 per cent respectively.